Malaysia's national carmaker Proton has secured 1.88 billion ringgit ($455.10 million) in banking facilities from China Construction Bank to fund expansion around the region, it said in a statement late Friday.

Volvo's fortunes have been revived since it was bought by China's Geely in 2010 but have come under renewed threat with the car sector facing one of its most challenging periods due to trade conflicts, hefty bills to develop electric and driverless cars, and an overall downturn in the industry.

The move comes as automakers race to develop vehicles powered by means other than petrol to meet an expected rise in demand as the world's top car market enforces official production quotas designed to reduce smog.

The payment comes as carmakers are grappling with the fallout of trade wars, rising costs for developing electric and driverless cars, and an industry downturn that has dented even the most profitable companies.

The Polestar 2 will cost about 59,900 euros ($68,100) for its launch edition and can be driven for around 275 miles before it needs recharging - broadly in line with the Model 3's current price in Europe of 58,800 euros and 260 miles range.

Carmakers have faced rising costs and pricing pressure in some markets due to a trade war between Washington and Beijing in 2018 as well as slower demand from Europe and from China, the biggest autos market.

As per the suit filed, Royal Enfield has infringed Flash electronics’ patent on “Regulator Rectifier Device and Method for Regulating an Output Voltage of the Same” duly issued by the United States Patent & Trademark Office (USPTO) to Flash Electronics on February 20, 2018 after Flash’s R&D department made a breakthrough invention of the component in 2014.